Elevra Lithium Breaks Ground on NAL Expansion Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 29 2026
0mins
Elevra Lithium announced that it has reached a milestone in the expansion of its North American Lithium operation with the official groundbreaking of the NAL Expansion project. The development is fully funded following the completion of a capital raise in May. Upon its anticipated completion in mid-2027, the first stage of the expansion is expected to increase annual spodumene concentrate production capacity by 15% to 20% while reducing unit operating costs. "The groundbreaking of the NAL Expansion marks a milestone for Elevra and reflects the progress we have made since announcing our staged expansion strategy. With funding secured and equipment orders being placed, we are focused on disciplined execution to deliver Stage 1. This expansion will increase production capacity and further strengthen NAL's position as a strategically important source of lithium supply in North America," said Lucas Dow, CEO and managing director.
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About ELVR
Elevra Lithium Limited, formerly Sayona Mining Ltd, is a North American lithium producer, with projects in Quebec, Canada and Western Australia. Its projects include Abitibi-Temiscamingue Hub, Eeyou Istchee James Bay Hub and Western Australia. Its Abitibi-Temiscamingue Hub includes North American Lithium, Authier Lithium Project, Tansim Lithium Project and Vallee Lithium Project. Its Eeyou Istchee James Bay Hub includes Moblan Lithium Project, Lac Albert Lithium Project and Troilus Claims. In Western Australia, it has lithium and gold projects. Its projects also include Ewoyaa Lithium Project and Carolina Lithium Project. Authier Lithium Project in Quebec, Canada is a hard rock spodumene lithium deposit. Tansim Lithium Project is situated 82 kilometers south-west of the Authier Lithium Project. Moblan Lithium Project is located in the Eeyou-Istchee James Bay region of northern Quebec, a proven lithium mining province which hosts lithium resources including the Whabouchi mine.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Elevra Lithium's NAL Expansion Project Officially Breaks Ground
- Project Groundbreaking: Elevra Lithium's official groundbreaking of the North American Lithium (NAL) expansion project marks a significant milestone in the company's staged growth strategy, with funding secured through a successful capital raise in May 2026, thereby strengthening the company's balance sheet.
- Production Capacity Increase: Stage 1 of the NAL expansion, expected to be completed by mid-CY27, is projected to deliver a 15-20% increase in annual spodumene concentrate production capacity while reducing unit operating costs through improved scale and efficiency, enhancing market competitiveness.
- Equipment Procurement Progress: To ensure the project stays on schedule, Elevra has ordered the necessary equipment for the expansion, thereby mitigating schedule risk and increasing the likelihood of timely delivery.
- Market Demand Opportunity: As North America seeks to bolster domestic battery materials supply to reduce reliance on external sources, the NAL expansion will provide increased supply of traceable and transparent lithium to the rapidly growing electric vehicle and energy storage markets, enhancing Elevra's strategic position in the industry.
See More
Elevra Lithium Expansion Project Updated Scoping Study Results
- Economic Benefit Enhancement: The updated scoping study reveals that Elevra Lithium's North American Lithium expansion project's post-tax NPV has increased from C$479M (US$355M) to C$969M (US$718M), a 102% rise primarily driven by rising lithium prices and optimized production stages, significantly enhancing the project's financial appeal.
- Accelerated Production Capacity: The expansion project is expected to increase annual production from 315 kt to 338 kt, achieving this production speed two years ahead of the original plan, indicating Elevra's strategic flexibility and market responsiveness in meeting the growing lithium demand.
- Stable Capital Expenditure: The total capital expenditure for the project remains at C$366M (US$270M), and the phased investment strategy not only reduces initial capital requirements but also mitigates operational risks through staged implementation, ensuring effective capital utilization.
- Operational Cost Control: The projected unit production cost post-expansion is estimated at C$847/tonne (US$628/tonne), consistent with previous studies, indicating that Elevra can enhance production efficiency while maintaining cost control, thereby strengthening the project's long-term profitability.
See More
Elevra Lithium Expansion Project Updated Scoping Study Results
- Economic Benefit Enhancement: The updated scoping study reveals that Elevra Lithium's North American Lithium expansion project has increased its post-tax NPV from C$479M (US$355M) to C$969M (US$718M), a 102% rise, primarily driven by rising lithium prices and optimized production staging, indicating strong economic potential for the project.
- Accelerated Production Capacity: The expansion project is expected to increase annual production from 315 kt to 338 kt, with production ramp-up occurring two years earlier than originally planned, set to commence in mid-CY27 for Stage 1, significantly enhancing the company's competitive position in the rapidly growing lithium market.
- Stable Capital Expenditure: The total capital expenditure for the project remains at C$366M (US$270M), with Stage 1 CAPEX at C$96M (US$71M), Stage 2 at C$81M (US$60M), and Stage 3 at C$188M (US$139M), demonstrating Elevra's ability to maintain cost control during the expansion process.
- Operational Cost Optimization: The unit operating cost post-expansion is projected at C$847/t (US$628/t), similar to previous studies, with expectations for further reductions in future production stages, enhancing the company's profitability and market appeal.
See More
Elevra Sells Interest in Ewoyaa Lithium Project to Huayou
- Transaction Value: Elevra has entered into an agreement to sell its interest in the Ewoyaa Lithium Project to Zhejiang Huayou Cobalt for approximately $71 million in cash upon closing, significantly enhancing the company's financial flexibility.
- Strategic Focus: This sale allows Elevra to concentrate on its core North American assets while simplifying its corporate structure, thereby improving operational efficiency and management effectiveness.
- Equity Structure Optimization: By divesting its interests in the Ewoyaa Project, Elevra will eliminate ongoing funding commitments for development, further optimizing shareholder value as it currently holds about 4.1% of Atlantic Lithium.
- Regulatory Approval: The transaction is expected to close in Q1 FY27, pending Ghanaian regulatory approvals, with Elevra's CEO stating that this move will provide financial support for future development activities.
See More
Elevra Lithium Sells Ewoyaa Project Stake to Huayou
- Transaction Value: Elevra has entered into an agreement to sell its interest in the Ewoyaa Lithium Project to Zhejiang Huayou Cobalt for approximately $71 million in cash upon closing, expected to enhance the company's financial flexibility significantly.
- Strategic Focus: The sale allows Elevra to concentrate on its core North American assets while simplifying its corporate structure by removing complexities associated with the joint venture ownership of the Ewoyaa Project, thereby improving operational efficiency.
- Equity Impact: Elevra currently owns about 4.1% of Atlantic Lithium, and the sale of its Ewoyaa interests is not contingent on Huayou's acquisition of Atlantic, providing Elevra with greater flexibility in future investment decisions.
- Regulatory Approval: The transaction is expected to close in Q1 FY27, pending Ghanaian regulatory approvals, with Elevra's CEO stating that this move will strengthen the company's market position and drive long-term shareholder value creation.
See More
Elevra Lithium Reports Significant Quarterly Performance Improvement
- Safety Performance Improvement: North American Lithium achieved two consecutive months without recordable injuries, with the TRIFR remaining below the FY2026 target, reflecting the maturity of the company's safety culture and risk management embedded in daily operations.
- Record Revenue: Revenue for Q3 2026 reached $81 million, a 22% quarter-on-quarter increase, with year-to-date revenue of $167 million, up 68% year-on-year, indicating a strong rebound in lithium market demand.
- Mining Efficiency Enhancement: The ore mined for the quarter totaled 370,508 wet metric tonnes, a 5% decrease QoQ, yet the increase in operational flexibility supports alignment with production requirements.
- Accelerated Expansion Plans: Elevra announced an accelerated expansion approach for North American Lithium aimed at bringing spodumene concentrate production online earlier, optimizing capital deployment, with an updated expansion study expected in Q4 FY26.
See More
Elevra Lithium's NAL Expansion Project Officially Breaks Ground
- Project Groundbreaking: Elevra Lithium's official groundbreaking of the North American Lithium (NAL) expansion project marks a significant milestone in the company's staged growth strategy, with funding secured through a successful capital raise in May 2026, thereby strengthening the company's balance sheet.
- Production Capacity Increase: Stage 1 of the NAL expansion, expected to be completed by mid-CY27, is projected to deliver a 15-20% increase in annual spodumene concentrate production capacity while reducing unit operating costs through improved scale and efficiency, enhancing market competitiveness.
- Equipment Procurement Progress: To ensure the project stays on schedule, Elevra has ordered the necessary equipment for the expansion, thereby mitigating schedule risk and increasing the likelihood of timely delivery.
- Market Demand Opportunity: As North America seeks to bolster domestic battery materials supply to reduce reliance on external sources, the NAL expansion will provide increased supply of traceable and transparent lithium to the rapidly growing electric vehicle and energy storage markets, enhancing Elevra's strategic position in the industry.
See More
Elevra Lithium Expansion Project Updated Scoping Study Results
- Economic Benefit Enhancement: The updated scoping study reveals that Elevra Lithium's North American Lithium expansion project's post-tax NPV has increased from C$479M (US$355M) to C$969M (US$718M), a 102% rise primarily driven by rising lithium prices and optimized production stages, significantly enhancing the project's financial appeal.
- Accelerated Production Capacity: The expansion project is expected to increase annual production from 315 kt to 338 kt, achieving this production speed two years ahead of the original plan, indicating Elevra's strategic flexibility and market responsiveness in meeting the growing lithium demand.
- Stable Capital Expenditure: The total capital expenditure for the project remains at C$366M (US$270M), and the phased investment strategy not only reduces initial capital requirements but also mitigates operational risks through staged implementation, ensuring effective capital utilization.
- Operational Cost Control: The projected unit production cost post-expansion is estimated at C$847/tonne (US$628/tonne), consistent with previous studies, indicating that Elevra can enhance production efficiency while maintaining cost control, thereby strengthening the project's long-term profitability.
See More
Elevra Lithium Expansion Project Updated Scoping Study Results
- Economic Benefit Enhancement: The updated scoping study reveals that Elevra Lithium's North American Lithium expansion project has increased its post-tax NPV from C$479M (US$355M) to C$969M (US$718M), a 102% rise, primarily driven by rising lithium prices and optimized production staging, indicating strong economic potential for the project.
- Accelerated Production Capacity: The expansion project is expected to increase annual production from 315 kt to 338 kt, with production ramp-up occurring two years earlier than originally planned, set to commence in mid-CY27 for Stage 1, significantly enhancing the company's competitive position in the rapidly growing lithium market.
- Stable Capital Expenditure: The total capital expenditure for the project remains at C$366M (US$270M), with Stage 1 CAPEX at C$96M (US$71M), Stage 2 at C$81M (US$60M), and Stage 3 at C$188M (US$139M), demonstrating Elevra's ability to maintain cost control during the expansion process.
- Operational Cost Optimization: The unit operating cost post-expansion is projected at C$847/t (US$628/t), similar to previous studies, with expectations for further reductions in future production stages, enhancing the company's profitability and market appeal.
See More
Elevra Sells Interest in Ewoyaa Lithium Project to Huayou
- Transaction Value: Elevra has entered into an agreement to sell its interest in the Ewoyaa Lithium Project to Zhejiang Huayou Cobalt for approximately $71 million in cash upon closing, significantly enhancing the company's financial flexibility.
- Strategic Focus: This sale allows Elevra to concentrate on its core North American assets while simplifying its corporate structure, thereby improving operational efficiency and management effectiveness.
- Equity Structure Optimization: By divesting its interests in the Ewoyaa Project, Elevra will eliminate ongoing funding commitments for development, further optimizing shareholder value as it currently holds about 4.1% of Atlantic Lithium.
- Regulatory Approval: The transaction is expected to close in Q1 FY27, pending Ghanaian regulatory approvals, with Elevra's CEO stating that this move will provide financial support for future development activities.
See More
Elevra Lithium Sells Ewoyaa Project Stake to Huayou
- Transaction Value: Elevra has entered into an agreement to sell its interest in the Ewoyaa Lithium Project to Zhejiang Huayou Cobalt for approximately $71 million in cash upon closing, expected to enhance the company's financial flexibility significantly.
- Strategic Focus: The sale allows Elevra to concentrate on its core North American assets while simplifying its corporate structure by removing complexities associated with the joint venture ownership of the Ewoyaa Project, thereby improving operational efficiency.
- Equity Impact: Elevra currently owns about 4.1% of Atlantic Lithium, and the sale of its Ewoyaa interests is not contingent on Huayou's acquisition of Atlantic, providing Elevra with greater flexibility in future investment decisions.
- Regulatory Approval: The transaction is expected to close in Q1 FY27, pending Ghanaian regulatory approvals, with Elevra's CEO stating that this move will strengthen the company's market position and drive long-term shareholder value creation.
See More
Elevra Lithium Reports Significant Quarterly Performance Improvement
- Safety Performance Improvement: North American Lithium achieved two consecutive months without recordable injuries, with the TRIFR remaining below the FY2026 target, reflecting the maturity of the company's safety culture and risk management embedded in daily operations.
- Record Revenue: Revenue for Q3 2026 reached $81 million, a 22% quarter-on-quarter increase, with year-to-date revenue of $167 million, up 68% year-on-year, indicating a strong rebound in lithium market demand.
- Mining Efficiency Enhancement: The ore mined for the quarter totaled 370,508 wet metric tonnes, a 5% decrease QoQ, yet the increase in operational flexibility supports alignment with production requirements.
- Accelerated Expansion Plans: Elevra announced an accelerated expansion approach for North American Lithium aimed at bringing spodumene concentrate production online earlier, optimizing capital deployment, with an updated expansion study expected in Q4 FY26.
See More
